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JPMorgan plans 15-year callable step-up notes with 3% initial rate
By Angela McDaniels
Tacoma, Wash., June 10 – JPMorgan Chase & Co. plans to price callable step-up fixed-rate notes due June 22, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3% in years one through seven, 3.5% in years eight through 12, 4% in year 13, 5% in year 14 and 7% in year 15. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning June 22, 2021, the notes will be callable at par on any interest payment date.
J.P. Morgan Securities LLC is the agent.
The notes will price June 20.
The Cusip number is 48128GD23.
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